The Best Mortgage Lenders in Wausau, WI
Compare verified mortgage lenders serving Wausau, Wisconsin. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Wausau
Featured Mortgage Lenders
Aspire Mortgage
Aspire Mortgage
Aspire Mortgage is a highly-rated local mortgage broker serving Wausau and central Wisconsin with exceptional customer service. They consistently receive 5-star reviews for their personalized approach, competitive rates, and expertise in navigating complex loan scenarios. As a local brokerage, they offer access to multiple lenders and loan programs while providing white-glove service throughout the entire mortgage process. Their team has deep roots in the Wausau community and specializes in helping first-time homebuyers, veterans, and families achieve their homeownership goals.
Loan Types:
Summit Credit Union
Summit Credit Union
As one of Wisconsin's largest credit unions with a strong presence in Wausau, Summit Credit Union offers competitive mortgage rates and exceptional member service. They consistently rank among the top mortgage lenders in Wisconsin for customer satisfaction and offer the advantage of credit union membership benefits. Their local loan officers understand the central Wisconsin market intimately and provide personalized guidance through the entire homebuying process. Summit is particularly praised for their straightforward approach, transparent pricing, and commitment to community development throughout the Wausau area.
Loan Types:
Strong Home Mortgage
Strong Home Mortgage, LLC
Strong Home Mortgage is a highly-rated Wisconsin-based mortgage lender that serves the Wausau market with excellent customer reviews and competitive loan options. They specialize in providing personalized mortgage solutions with an emphasis on education and transparency. The company has built a strong reputation for their responsive communication, efficient processing, and ability to close loans quickly. While headquartered in Milwaukee, they have established a significant presence throughout Wisconsin and are particularly praised for their expertise in navigating unique property situations and providing creative financing solutions for challenging scenarios.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Wausau, WI
Are there any special down payment assistance programs for first-time homebuyers in Wausau, WI?
Yes, Wausau homebuyers can access the WHEDA (Wisconsin Housing and Economic Development Authority) Advantage program, which offers competitive rates and down payment assistance. Additionally, the City of Wausau itself offers a Homebuyer Assistance Program that can provide a forgivable loan of up to $5,000 for down payment and closing costs for income-eligible buyers purchasing within the city limits.
How do property taxes in Marathon County affect my mortgage payments in Wausau?
Marathon County property taxes are a significant component of your monthly escrow payment. The effective tax rate in Wausau and surrounding areas typically ranges from 1.8% to 2.2% of the home's assessed value. Your lender will calculate this into your Debt-to-Income (DTI) ratio, so it's crucial to budget for this above-average tax burden when determining how much house you can afford.
What is the typical timeframe for mortgage approval and closing on a home in Wausau's competitive market?
In Wausau's active market, a streamlined pre-approval is essential. From offer to closing, expect a timeline of 30-45 days for a conventional loan. Working with a local lender familiar with area appraisers and title companies can help avoid delays, especially during the busy spring and summer seasons when competition can be fiercer.
Are USDA Rural Development loans available for homes in the Wausau, WI area?
Yes, surprisingly, parts of the Wausau metropolitan area and many surrounding communities in Marathon County are eligible for USDA Rural Development loans, which offer 100% financing (no down payment). A local mortgage officer can check the specific USDA eligibility map for your desired property, as this can be a valuable program for qualifying buyers looking in eligible zones.
How does Wausau's older housing stock impact the mortgage appraisal and inspection process?
Wausau has many charming but older homes, particularly in established neighborhoods like the Near East Side. This makes a thorough home inspection critical, as issues with older roofs, foundations, or electrical systems could become loan contingencies. An appraisal may also require repairs for health and safety issues to be completed before loan finalization, so factor in potential repair costs during your offer.
Why Choose a Mortgage Lender in Wausau?
Local Market Knowledge
Lenders who understand Wausau's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Wisconsin.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Wausau and get competitive rates on your home loan.